Liquidity Services Establishes Innovation Hub in Bethesda Headquarters as it Continues Its Rapid Growth and Innovation

Rhea-AI Summary

Liquidity Services, a leader in B2B e-commerce for surplus assets, announced a partnership with LocalWorks to create a small business incubator in Bethesda, MD. This co-working space will offer 46 office suites and high-speed internet for entrepreneurs. The company reported a 44% growth in Gross Merchandise Volume (GMV) and tripled its adjusted EBITDA year-over-year in Q2-FY21. With a focus on sustainability and innovation, Liquidity Services aims to attract talent in various sectors, offering both local and remote job opportunities.

Positive

• 44% growth in Gross Merchandise Volume (GMV) in Q2-FY21.
• More than tripled adjusted EBITDA compared to the previous year.
• Initiative to support local entrepreneurs through a co-working space.
• Commitment to sustainability and innovation, aligning with market trends.

Negative

• None.

BETHESDA, Md., May 24, 2021 (GLOBE NEWSWIRE) -- Liquidity Services, the world’s largest B2B e-commerce marketplace for business and government surplus, has partnered with LocalWorks to establish a small business incubator within its Bethesda, MD headquarters office. The co-working space includes 46 turn-key office cubes and suites, and two conference rooms with high-speed internet to accommodate technology and professional service entrepreneurs and small businesses.

“Our high growth, market leading e-commerce business has attracted talent from across the world that continue to realize productivity benefits of our hybrid office model across our global workforce. We have now extended this hybrid office environment to our Bethesda, MD headquarters and used this opportunity to create a co-working space to attract and inspire other entrepreneurs and small businesses to identify and build market leading solutions under the same roof as Liquidity Services. This initiative leverages our core values of Innovation to Support Leadership, Relentless Improvement and Doing Well and Doing Good,” said Bill Angrick, Co-Founder, Chairman and CEO of Liquidity Services.

Liquidity Services is undergoing a sustained period of rapid growth and technological innovation, recording 44% growth in Gross Merchandise Volume (GMV) and more than tripling its adjusted EBITDA over the prior year period in Q2-FY21. The Company is actively seeking to fill open positions in the Sales, Operations, IT, Accounting/Finance, Marketing and Client Services departments. These high paying roles are a mix of both local and fully virtual opportunities.

“We are excited to see that the world is picking up on what we have known for years and that is the importance of caring for the planet through our sustainability initiatives and continually evolving our digitally native products and services towards the most optimal global work environment possible,” said Novelette Murray, Chief Human Resources Officer.

“We have created a center of excellence in developing and growing e-commerce marketplaces in our Bethesda location and the pandemic only accelerated the adoption of e-commerce and related services. We hope our example will extend to other small businesses in our new co-working hub while providing the flexibility needed to attract the best talent and keep our workforce as productive as possible through the right balance of physical and remote office work,” Murray continued.

Interested parties may contact LocalWorks, which will manage Liquidity Services’ furnished co-working incubator space, in the very desirable location of Arlington Road in Bethesda, MD. This arrangement also allows LocalWorks members access to inexpensive, all-inclusive no-lease workspaces, on an as needed basis. For more information please contact: Barry Greenfield barry@localworks.us 781-222-8221

About Liquidity Services, Inc.

Liquidity Services (NASDAQ: LQDT) operates the world’s largest B2B e-commerce marketplace platform for surplus assets with over $8.5 Billion of completed transactions, more than 3.8 million registered buyers and 15,000 corporate and government sellers. We support clients’ sustainability efforts by helping them extend the life of assets, prevent unnecessary waste, and carbon emissions, and defer products from landfills. Through our vital mission of Building a Better Future For Surplus we’ve played an integral role in many of our clients’ zero-waste initiatives and worked with the corporate, federal and state governments to pioneer some of the largest green initiatives to date, deferring billions of pounds of surplus assets from landfills.

FAQ

What are Liquidity Services' recent financial highlights for Q2-FY21?

Liquidity Services reported a 44% growth in Gross Merchandise Volume (GMV) and more than tripled its adjusted EBITDA compared to the previous year.

What is the purpose of the partnership with LocalWorks?

The partnership aims to establish a small business incubator in Bethesda, MD, providing co-working space for entrepreneurs.

What job opportunities is Liquidity Services currently offering?

Liquidity Services is seeking to fill positions in Sales, Operations, IT, Accounting/Finance, Marketing, and Client Services, offering a mix of local and virtual roles.

How does Liquidity Services contribute to sustainability?

Liquidity Services helps clients extend asset life and prevent waste, supporting zero-waste initiatives and reducing carbon emissions.

Where is the co-working space located?

The co-working incubator is located at Liquidity Services' headquarters in Bethesda, MD.